Lead futures fall 0.30% on low demand; weak global cues

Lead prices weakened by 0.30 per cent to Rs 116.80 per kg in futures trading today as speculators trimmed positions on sluggish demand from battery makers at spot markets.
In addition, weakness in the base metals pack at the London Metal Exchange weighed on the prices.
At the Multi Commodity Exchange, lead for delivery this month eased by 35 paise, or 0.30 per cent, to Rs 116.80 per kg, in a business turnover of 216 lots.
Similarly, the metal for delivery in June traded lower by 30 paise, or 0.25 per cent, to Rs 117.40 per kg in four lots.

Marketmen said apart from subdued demand from battery makers at the spot market, weakness in base metals at the London Metal Exchange after a private Chinese factory gauge showed contraction for a 14th month and the US manufacturing growth cooled, led to the fall in lead prices in futures trade.